APCIA's Chase Mitchell said "Florida's property insurance market has been pulled back from the brink of collapse" thanks to a legislative overhaul "and is now steadily improving." Any effort to roll back the overhaul would hinder the progress that is underway, Mitchell said. Rate reductions are expected for three-quarters of residents in Miami-Dade County and half in Broward County, according to state officials, while Florida-backed Citizens Property Insurance is set to lower its rates by 5.6% on average this year.

Social inflation is increasingly affecting workers' compensation claims, with rising claim severity attributed to factors such as medical providers expanding claims and attorneys increasing their involvement in claims, experts said in a panel discussion at a recent conference. Heightened legal and regulatory pressures -- including broader presumptions for mental injuries -- are contributing to higher costs and more complex settlements, the experts said.

Some states are taking steps amid rising traffic deaths to reconsider the 85th percentile rule for setting speed limits, which is based on how fast drivers travel on a particular road. The Federal Highway Administration has clarified that the rule is not mandatory, prompting states to consider factors such as pedestrian safety and crash frequency. California, for example, has allowed local governments to deviate from the rule for safety reasons.

The Western US now faces wildfire risk throughout the year, with over 2.6 million homes in 14 states at a moderate or higher level of risk, Cotality says in a report. About half of those homes are in California, 319,000 are in Colorado, and 243,000 are in Texas, the report says. A significant factor in the West's wildfire risk is the wildland-urban interface, where residential areas adjoin forests or undeveloped areas.

Legislation introduced in Texas would set new safety standards for youth camps, after last month's flash flooding that caused the deaths of 27 campers and counselors at Camp Mystic, in the state's Hill Country. The bill would mandate that camp operators develop formal, state-approved emergency plans; implement disaster warning systems; and train staff and volunteers on emergency protocols.

The cost of homeowners insurance in the US is outpacing the rate of inflation by 8.7% and has reached an average of $2,802, The Zebra says in a report. Factors such as claim history, home features, location, supply chain disruptions, tariffs and extreme weather events are key drivers of higher premiums, the report says. Nebraska and Oklahoma have the highest yearly premiums, while Hawaii and Vermont have the lowest, according to the report.

The outer bands of Hurricane Erin hit North Carolina's Outer Banks with powerful wind and waves that flooded portions of the barrier islands' main highway, while at least two beachfront homes were at risk of collapsing into the ocean. Erin was a Category 2 storm as of late this morning, and it is forecast to lose strength as it moves farther out to sea in the days ahead.

Human error has emerged as a primary cybersecurity challenge, with 89% of organizations identifying it as a major hurdle, particularly regarding phishing and social engineering. Experts highlight the importance of foundational security measures, such as multifactor authentication and regular patching, as well as comprehensive training to address these issues.

Federal Reserve expressed concerns about inflation and the labor market during their most recent policy meeting, although they ultimately opted to keep interest rates unchanged, according to minutes from the gathering. "Participants generally pointed to risks to both sides of the Committee's dual mandate, emphasizing upside risk to inflation and downside risk to employment," the minutes show. Two officials dissented from the decision to leave rates unchanged.